When Alex Ferguson hand-picked David Moyes to succeed him after 26 years in charge of Manchester United, the club immediately threw its support behind Moyes. It handed the new coach a six-year contract—almost unheard of in the modern game—the backing to sign superstars, and a promise that Ferguson would hang around as a director. United, England's most storied club, wasn't going to let Moyes fail.

But as the English Premier League season begins this weekend with three of last season's top four teams under new managers, United is already being counted out. The British bookmakers have the team third-favorite to win the league, behind Chelsea and Manchester City.

"I believe in this team," striker Robin van Persie said Sunday after United won the Community Shield, English soccer's traditional curtain-raiser between the previous season's league winner and FA Cup winner (Wigan Athletic). "I don't want to be funny, but we are the champions. So based on what are we third-favorites?"

The answer is Moyes, through no fault of his own. His 11 years at Everton showed he's more than capable of molding a competitive team. But Ferguson, who won 38 trophies in his time at United, is probably the toughest act to follow in sports. And already, the differences are obvious as Moyes negotiates his first test: the summer transfer market.

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"I think he has to sign a marquee player," said Phil Thompson, a former Liverpool coach and Sky Sports analyst. "Alex Ferguson's done it most transfer windows. It keeps the players on their toes, plus it sets the right tone with the fans."

So far, Moyes has struck out. He lost the signature of Spain starlet Thiago Alcantara to Bayern Munich's new manager, Pep Guardiola. Then he made at least two unsuccessful bids for Barcelona midfielder Cesc Fabregas. It was even more un-Ferguson when Moyes freely discussed the bids in news conferences.

That stopped in the past 10 days or so as it became clearer that Fabregas wasn't leaving Spain. And when Moyes was asked Sunday about any other potential targets, he declined to comment. "Obviously, I would never talk about players at other clubs," he said Sunday. "I think it's the wrong thing to do."

With the United war chest at his disposal, acquiring top players should have been easier than it ever was at Everton, where he worked on a shoestring budget. Moyes only spent more than $15.5 million on a player twice and never broke the $30 million barrier. United, by comparison, has spent more than $30 million on five different players in the past six years, according to the transfer tracking website transfermarkt.com.

United's whiffs in the market this summer aren't entirely down to Moyes. During the offseason, the club made an equally significant change in the boardroom when it replaced its longtime chief executive, David Gill. In a decade working alongside Ferguson, Gill helped the coach snare some of the best talent in Europe and assemble the dominant side that won five league titles and the Champions League. In Gill's place is vice-chairman Ed Woodward, who comes from the club's wildly successful commercial side, but is less experienced in dealing with personnel.

The Fabregas chase was only one of four major Premier League transfer sagas that now seem unlikely to materialize. Liverpool is set to hang onto temperamental striker Luis Suarez after all; Tottenham could yet keep winger Gareth Bale; and Moyes insists that Wayne Rooney isn't for sale, despite a rumored courtship with Chelsea.

Manchester City, meanwhile, has kept a low profile. Under former Malaga manager Manuel Pellegrini, the club has quietly spent around $150 million on the attacking talents of Alvaro Negredo, Stevan Jovetic, Jesus Navas, and Fernandinho.

Chelsea's only major move under José Mourinho so far has been the acquisition of German forward Andre Schurrle. Among the league's top four teams, Arsenal has been the quietest, despite needing the biggest shakeup. Its only signing has been the French under-20 international Yaya Sanogo.

Moyes has less than three weeks of the transfer window remaining to respond to City and Chelsea. But no matter how it shakes out, Thompson believes Moyes will find the next test—getting through the season—considerably more manageable.

"Who can handle the pressure of sorting out multimillionaires?" Thompson said. "Moyes has coached very well. But he's also handled people very well."

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